Online Sports Betting - Argentina

Revenue in the Online Sports Betting market is projected to reach US$587.90m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2028) of 6.74%, resulting in a projected market volume of US$763.10m by 2028.
In the Online Sports Betting market, the number of users is expected to amount to 2.4m users by 2028.
User penetration will be 4.2% in 2024 and is expected to hit 4.9% by 2028.
The average revenue per user (ARPU) is expected to amount to US$297.10.
In global comparison, most revenue will be generated Australia (US$9.76bn in 2024).
With a projected rate of 48.9%, the user penetration in the Online Sports Betting market is highest Canada.

Definition:

The online sports betting market refers to the segment of the online gambling industry that involves placing bets on various sports events over the internet. This includes a wide range of sports, such as football, basketball, baseball, horse racing, tennis, and many others. Online sports betting allows customers to place bets on the outcome of sporting events in real-time, either before or during the event. These bets can be placed through various online platforms, including websites and mobile apps, which are often operated by licensed online sportsbook operators.

Additional Information

Data includes revenue figures in Gross Gambling Revenue (GGR), which is the total amount of bets placed by customers minus the amount paid out in winnings, Users, average revenue per user (ARPU), user penetration rate, and a breakdown of revenue shares of the total betting market. User and revenue figures represent B2C services.

Online sports betting on various sports such as football, basketball, tennis, cricket, golf, etc.
Esports betting on sports simulation games such as FIFA, NBA 2K, and Madden NFL
Proposition betting on specific events or outcomes in a sports game

Offline or land-based sports betting establishments such as sportsbooks and race tracks
Betting on non-sporting events such as politics, entertainment, and reality TV shows
Illegal or unlicensed online sports betting websites or apps.

The Online Sports Betting market in Argentina has been experiencing significant growth in recent years, driven by changing customer preferences and favorable local circumstances.

Customer preferences: Argentinian customers have shown a growing interest in online sports betting, as it provides them with convenience and accessibility. With the advancement of technology and the widespread use of smartphones, customers can now easily place bets on their favorite sports events from the comfort of their own homes or on the go. The ability to access a wide range of sports and betting options, coupled with the convenience of instant transactions and real-time updates, has made online sports betting an attractive option for many Argentinian customers.

Trends in the market: One of the key trends in the online sports betting market in Argentina is the increasing popularity of live betting. Live betting allows customers to place bets on ongoing sports events, adding an element of excitement and engagement to the betting experience. This trend has been fueled by the availability of live streaming services, which enable customers to watch the games and make informed betting decisions in real-time. Another trend in the market is the growing number of online sports betting operators entering the Argentinian market. The liberalization of online gambling laws in Argentina has attracted both domestic and international operators, leading to increased competition in the market. This competition has resulted in improved betting options, competitive odds, and attractive promotions for customers.

Local special circumstances: One of the key factors driving the growth of the online sports betting market in Argentina is the passion for sports in the country. Argentina is known for its love of football, and this passion extends to sports betting. The availability of online sports betting platforms has allowed Argentinian customers to engage with their favorite sports in a new and exciting way, further fueling the demand for online sports betting.

Underlying macroeconomic factors: The growth of the online sports betting market in Argentina is also influenced by macroeconomic factors. The country has experienced economic challenges in recent years, including high inflation and currency devaluation. As a result, many Argentinians have turned to online sports betting as a way to generate additional income or hedge against inflation. The potential for significant winnings and the ability to bet in foreign currencies have made online sports betting an attractive investment option for some Argentinians. In conclusion, the Online Sports Betting market in Argentina is experiencing significant growth due to changing customer preferences, including the convenience and accessibility of online betting. The popularity of live betting and the increasing number of online sports betting operators entering the market are also driving this growth. The passion for sports in Argentina and the underlying macroeconomic factors, such as high inflation and currency devaluation, further contribute to the development of the online sports betting market in the country.

Data coverage:

The data encompasses B2C enterprises. Figures are based on Gross Gambling Revenue (GGR) and represent what consumers pay for these products and services. The user metrics show the number of customers who have made at least one online purchase within the past 12 months.

Modeling approach / Market size:

Market sizes are determined through a bottom-up approach, building on predefined factors for each market segment. As a basis for evaluating markets, we use annual financial reports of the market-leading companies, third-party studies, and reports, as well as survey results from our primary research (e.g., the Statista Global Consumer Survey). In addition, we use relevant key market indicators and data from country-specific associations, such as GDP, GDP per capita, and internet connection speed. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the S-curve function and exponential trend smoothing. The main drivers are internet users, the urban population, the usage of key players, and attitudes toward online services.

Additional notes:

The market is updated twice a year in case market dynamics change. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. GCS data is reweighted for representativeness.

This report presents a comprehensive analysis and additional information on the Digital market, in a PDF format.

Sports betting is a type of gambling that refers to the activity of placing a wager on the outcome of a sporting event. Events on which wagers are made could be anything from more traditional activities like horse or dog racing to sports such as soccer and American football. Bets are typically made through bookmakers, also known as sportsbooks. These operate both as land-based establishments, for example, at casinos or betting shops, and online. The total amount of money wagered by bettors is known as a handle, while the amount of money earned by a sportsbook after paying out the winners is revenue. In 2022, the sports betting and lottery market size worldwide amounted to 235.46 billion U.S. dollars.